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Dear Future Business Leader,
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New Trends, New Courses II – What Prompted The Changes?
Many top-rated business schools had not developed new MBA programs in nearly 30 years. Why all the changes now?
The major reason for the changes is one framework of business education simply won’t work anymore. Interdisciplinary studies and experience-based learning foster the kind of creativity, leadership, problem-solving skills, critical and independent thinking, business ethics, and cultural sensitivity necessary to succeed in real-world business.
The impact of the dot-com era and an increasingly dynamic, global economy are two main catalysts for curriculum changes. MBA programs now incorporate more courses specifically geared toward e-commerce, digital media, and information technology. Programs also look beyond textbooks to incorporate more interactive learning into the classroom. The growing significance of communication in a global context also translates into a stronger emphasis on foreign language study and traveling abroad within MBA curriculum.
Finally, many top business schools have changed due to new dean and program director appointments in the past few years. These new personnel bring years of experiences, fresh perspectives, and great initiatives to instill new energy into well-established institutions in a competitive and adaptive MBA education world.
What Is Required of The Schools?
To take the program to the next level, those schools need significant funding from their respective parent institutions to support new facility, new equipment, increase in faculty and more. Both Stanford and Columbia are in the midst of expanding their business school campuses.
As we can see, a lot of more work is ahead for all the top institutions. To educate next century’s business leaders, all the business schools need to stay at the forefront of the changes.
We will continue our final part of discussion on new MBA curriculums in our next edition of InFocus newsletter.
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